Voters Looking for Candidates to Take on Big Oil Profiteering as Companies Rake in Massive Q3 Profits
New memo from the STOP Campaign shows how candidates are seizing on “Big Oil Profiteering” as part of their closing argument with voters
(Washington, D.C) - Climate advocates and their political allies are seizing on the latest round of obscene Big Oil quarterly profits to go on offense against the industry for gouging consumers at the gas pump and driving up the cost of living.
After months of muddled messaging on what’s causing high prices and how to address the crisis, leading political figures, media personalities, and organizations have begun to solidify around the core argument that progressive campaigns like Stop The Oil Profiteering have been pushing since this Spring: Big Oil is gouging the public at the pump and a windfall profits tax is the best way to hold them accountable.
“Big Oil just handed climate advocates the closing argument they should be making with voters ahead of this midterm election: oil companies are raking record profits at your expense and it’s time to hold this industry accountable,” said Jamie Henn, spokesperson for the Stop The Oil Profiteering (STOP) campaign. “Candidates should be seizing on these profit announcements to remind voters who’s really to blame for high prices and how policies like a windfall profits tax could put money back in the pockets of families across this country.”
On Thursday, STOP released a memo outlining how Democratic candidates in particular have seized on the “profiteering” message as part of their closing argument with voters. Many of these candidates are also calling for a windfall profits tax, a policy that has the support of dozens of members of Congress and leading party figures like California Governor Gavin Newsom.
Polling has repeatedly shown that these messages and policies are popular with voters. Earlier this year, a staggering 80 percent of voters supported a windfall profits tax and another poll in July showed three in five Americans agree that big oil and gas company CEOs are using the pandemic and war in Ukraine as an excuse to raise prices.
“Voters, including majorities of Independents and Republicans, have made it overwhelmingly clear that they do not support oil and gas companies profiting off energy crises. Lawmakers should make clear to voters that they're in alignment on this issue,” said Danielle Deiseroth, Lead Climate Strategist at Data for Progress.
A message about Big Oil profiteering has the added benefit of being true, unlike right wing attacks on President Biden. Big Oil companies are expected to announce over $50 billion in profits in the coming days on top of the over $100 billion they earned in the first half of this year. Rather than bring prices down by stabilizing supply or investing in clean energy, Big Oil companies are using their massive profits for record stock buybacks and funneling tens of millions of dollars into dark money groups to help elect politicians who will attack climate policies and support additional fossil fuel development.
“Advancing a windfall profits tax would bring real, direct relief to Americans over the winter while sending a clear message that the electorate wants to hear,” said Cass DiPaola with Stop The Oil Profiteering. “Voters want candidates and elected officials to take on Big Oil, it’s time our leaders listen.”
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